银行间市场理财产品快速发展的原因及对银行业的影响  

Reasons for the Rapid Development of Interbank Market Financial Products and the Influence on Banking Sector

作　　者：杨明奇[1] 

机构地区：[1]中国人民银行上海总部,上海200012

出　　处：《上海金融》2011年第12期104-108,共5页Shanghai Finance

摘　　要：在融资类银信合作理财产品监管趋严并受到限制的背景下,投资银行间市场的理财产品快速发展是2011年理财市场的一个重要特点。本文的研究表明:一是在现有经济金融环境下投资者对较高收益率资产的需求与银行之间的存款竞争等多个因素共同促进了银行间市场理财产品的快速发展;二是银行间市场理财产品的发行不会对银行在市场中的地位产生影响,总体上对银行体系的稳定影响有限;三是银行间市场理财产品的发行对银行体系流动性总体有利,但会产生时点上的不利影响,并给中小机构的流动性管理带来压力;四是银行间市场理财产品的发行是一种金融创新,有利于金融机构的长远发展。本文建议:适当提高存款基准利率水平,稳步推进利率市场化;对现有银行间市场理财产品进一步加强监测与规范;在加强监管的前提下,继续鼓励银行金融创新。The fast development of interbank market financial products is the feature of the financial products market in 2011 under the background of stricter regulation of the bank-trust cooperation financial product. The article finds out that： First, the demand of investors for higher return and competition among banks stimulated the development of interbank market financial products; Second, interbank market financial product will not change the status of banks in financial market and will not endanger the stability of banking sector; Third, interbank market financial product will benefit the liquidity of banking system in overall terms, but will bring stress on the small and mediumsized banks＇ liquidity management; Fourth, interbank market financial product is the financial innovation that will benefit the development of financial institutions. The article suggests to raise moderately the benchmark interest rate of deposits and to advance steadily the liberalization of interest rate, to reinlbrce the monitoring and regulation on interbank market financial products, and to encourage financial innovation in banking sector under stricter regulation.

关 键 词：银行间市场 理财产品 银行业 影响 

分 类 号：F832.33[经济管理—金融学]